Lam Research Co. (NASDAQ:LRCX) Shares Purchased by California State Teachers Retirement System

California State Teachers Retirement System increased its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 871.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,064,912 shares of the semiconductor company's stock after purchasing an additional 1,852,340 shares during the quarter. California State Teachers Retirement System owned about 0.16% of Lam Research worth $149,149,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Financial Perspectives Inc grew its position in Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after buying an additional 309 shares in the last quarter. Fairway Wealth LLC grew its position in Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after buying an additional 306 shares in the last quarter. Atwood & Palmer Inc. purchased a new position in Lam Research during the fourth quarter worth about $27,000. Midwest Capital Advisors LLC purchased a new position in Lam Research during the fourth quarter worth about $27,000. Finally, Bell Investment Advisors Inc grew its position in Lam Research by 836.6% during the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock worth $28,000 after buying an additional 343 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the transaction, the senior vice president now owns 179,084 shares of the company's stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on LRCX shares. Jefferies Financial Group lifted their price target on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Oppenheimer lowered their target price on Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. TD Securities lowered their target price on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Mizuho increased their price objective on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft set a $70.00 target price on Lam Research and gave the company a "hold" rating in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Lam Research presently has an average rating of "Moderate Buy" and a consensus target price of $91.56.

Lam Research Stock Performance

LRCX stock traded up $0.77 during trading on Wednesday, reaching $71.67. The stock had a trading volume of 11,210,488 shares, compared to its average volume of 12,127,411. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The stock's 50 day moving average is $72.18 and its two-hundred day moving average is $75.25. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The firm has a market cap of $92.00 billion, a PE ratio of 21.77, a PEG ratio of 1.47 and a beta of 1.52.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The firm had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter last year, the company earned $7.79 earnings per share. The business's revenue for the quarter was up 24.4% compared to the same quarter last year. As a group, equities analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.28%. Lam Research's dividend payout ratio is 25.63%.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.